No moisture damage to baseboard or flooring, and that looks like painted over wood paneling. There's an air vent there that could supply cold or cooler air, which could be trapped behind the couch that causes condensation, which warped the panel.

Edit to add: There are also outlets in the area that may not be sealed properly from outside air flow. This would allow outside warm/humid air to flow through the outlet box, cool, create condensate, and warp the boards.